UBS Group AG Lowers Position in Interface, Inc. (TILE)

UBS Group AG decreased its position in shares of Interface, Inc. (NASDAQ:TILE) by 0.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,584 shares of the textile maker’s stock after selling 275 shares during the period. UBS Group AG owned approximately 0.13% of Interface worth $1,574,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Interface by 4.9% in the first quarter. Vanguard Group Inc. now owns 5,788,939 shares of the textile maker’s stock worth $110,280,000 after buying an additional 271,658 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in Interface by 18.8% in the first quarter. Frontier Capital Management Co. LLC now owns 2,749,905 shares of the textile maker’s stock worth $52,386,000 after buying an additional 436,135 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Interface by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,439,985 shares of the textile maker’s stock worth $46,481,000 after buying an additional 94,970 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Interface by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 2,075,470 shares of the textile maker’s stock worth $39,537,000 after buying an additional 21,698 shares in the last quarter. Finally, State Street Corp raised its stake in Interface by 5.7% in the fourth quarter. State Street Corp now owns 1,454,181 shares of the textile maker’s stock worth $26,977,000 after buying an additional 78,567 shares in the last quarter. 92.23% of the stock is owned by institutional investors.

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Interface, Inc. (TILE) traded up 1.60% during mid-day trading on Tuesday, hitting $19.10. 330,327 shares of the stock were exchanged. Interface, Inc. has a 12-month low of $14.59 and a 12-month high of $21.05. The firm has a 50-day moving average price of $19.24 and a 200-day moving average price of $19.09. The stock has a market capitalization of $1.20 billion, a P/E ratio of 24.58 and a beta of 1.20.

Interface (NASDAQ:TILE) last released its quarterly earnings data on Wednesday, July 26th. The textile maker reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.02. Interface had a return on equity of 19.66% and a net margin of 5.21%. The business had revenue of $251.70 million for the quarter, compared to analysts’ expectations of $254.94 million. During the same quarter in the previous year, the business posted $0.32 EPS. Interface’s revenue for the quarter was up 1.4% on a year-over-year basis. Equities analysts predict that Interface, Inc. will post $1.14 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 11th will be issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Wednesday, August 9th. This is a boost from Interface’s previous quarterly dividend of $0.06. Interface’s payout ratio is 30.77%.

Interface announced that its board has approved a stock buyback plan on Wednesday, April 26th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the textile maker to buy up to 7.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

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A number of analysts have commented on TILE shares. BidaskClub lowered shares of Interface from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Stifel Nicolaus increased their price target on shares of Interface from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. ValuEngine raised shares of Interface from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Zacks Investment Research lowered shares of Interface from a “hold” rating to a “sell” rating in a research report on Thursday, April 27th. Finally, Nomura started coverage on shares of Interface in a research report on Wednesday, April 12th. They issued a “buy” rating and a $22.00 price target for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $19.00.

In other Interface news, VP Robert Coombs sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $20.40, for a total value of $244,800.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel T. Hendrix sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $20.93, for a total value of $104,650.00. The disclosure for this sale can be found here. Insiders have sold a total of 34,000 shares of company stock worth $681,940 in the last quarter. 1.90% of the stock is currently owned by company insiders.

About Interface

Interface Inc is engaged in design, production and sale of modular carpet, also known as carpet tile. As of January 1, 2017, the Company marketed its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company operates through three segments: Americas, Europe and Asia-Pacific.